the roll out of ebay managed payments

[lm-entertainment]

i'm sure a lot or most of you probably received the managed payments email this morning. in case you didn't, or missed here - ebay is rolling out managed payments later in the year with pre-registration opening shortly.

more info is located at https://sellercentre.ebay.com.au/managed-payments

[wide-world-of-stamps]

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@11dustyattic wrote:

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@Anonymous wrote:

This thread is too long to check if my question has been asked.

What happens if my monthly fees are due after MP comes into effect ?

Currently my fees are paid using PayPal.

Will my pre-MP fees still come from PayPal one last time or must I transfer

funds to my linked bank account before they are due ?

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I don't think anyone can answer that accurately while it's changing over. Maybe for now have enough money in your bank account. If they try to take it from psypal, paypal will source it from your bank anyway. Just my thought

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There is a field "Automatic payment method", which for us is set to Paypal, but gives us an option to change it.

So I would assume that your payment will come from wherever that option is set to.

[11dustyattic]

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@lyndal1838 wrote:

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@everard6920 wrote:

I'm with St George, my first payout was apparently on Friday and still nothing ...

If it's not in there tomorrow I'm going to investigate.

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I am with St George and have found out over they years that if the paying institution has done the transfer before 5.30pm the payment will appear in your bank account the next day.....you should have had it on Saturday morning.

If it was done after 5.30pm it will not be processed till Monday and you should have it on Tuesday.

Any payments I make from our Business Account are always done before 5.30pm and received overnight and available for use the next morning.

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I can't actually say what bank I'm with, but impressive your bank transfers on weekends. Mine only transfers on weekdays Monday to Friday, which is unacceptable in this age of electronic transfers IMO

[11dustyattic]

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@wide-world-of-stamps wrote:

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@11dustyattic wrote:

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@Anonymous wrote:

This thread is too long to check if my question has been asked.

What happens if my monthly fees are due after MP comes into effect ?

Currently my fees are paid using PayPal.

Will my pre-MP fees still come from PayPal one last time or must I transfer

funds to my linked bank account before they are due ?

---

I don't think anyone can answer that accurately while it's changing over. Maybe for now have enough money in your bank account. If they try to take it from psypal, paypal will source it from your bank anyway. Just my thought

---

There is a field "Automatic payment method", which for us is set to Paypal, but gives us an option to change it.

So I would assume that your payment will come from wherever that option is set to.

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Okay thanks that's interesting. I thought it would all be to and from the bank account after the roll out is complete

[everard6920]

I don't have time to go back through and see if this has been discussed, but I just spoke to the MP CS because I was changed over on the 31/07 and my first payout was only made today, 04/08.

Seeing as I'm set to daily, I wanted to know why, and this is what they said:

"It will take 2-3 days for money to transfer from buyer's bank to eBay, and take 1-2 days from eBay to your bank account. Once the buyer clicked to pay, it is guaranteed the money will arrive and at the same time you will receive the notice to ship out the items. The handling time starts counting at the time of buyer click to pay. You can set it up to receive payout daily, then eBay will transfer money to your bank account after eBay receive it."

I didn't realise that I had to wait 2 - 3 days for it to clear to eBay before it is even sent to my bank. Not ideal, but what can you do.

Also, don't bother speaking to regular CS about this. It was like pulling teeth until I was put through to the specialised team.

[oz-e-seller]

Mine isn't taking 2-3 days to clear to ebay. The payouts I'm receiving in my bank are being sent and received on the day following the sale, so far. ie. an item sold yesterday (Monday) was paid for by customer immediately and that payment was included in the payout sent at 1am this morning (Tuesday) which arrived in my account before 9.30am.

I shipped the item yesterday because I keep a buffer for costs in my account anyway. But if you needed that payment to pay for the shipping costs then you could just up your handling time to however many days your bank takes to process your deposits.

[oz-e-seller]

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@11dustyattic wrote:

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@Anonymous wrote:

This thread is too long to check if my question has been asked.

What happens if my monthly fees are due after MP comes into effect ?

Currently my fees are paid using PayPal.

Will my pre-MP fees still come from PayPal one last time or must I transfer

funds to my linked bank account before they are due ?

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 Your invoices and their payment method remains the same, ie. they will be taken from paypal unless you change the setting. The FVF on MP are automatically deducted before payout, so all that will happen is next month your ebay invoice will be reduced to store fees only or $0 if you don't have a store (and don't go over your limit to be charged insertion fees). My store fees will remain at $60/mo and my next invoice will be slightly above that as I had some sales included prior to MP being switched on, the one after that will just be the store fee alone. I may change mine to direct debit though since the funds will be in that account anyway.

[everard6920]

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@oz-e-seller wrote:

Mine isn't taking 2-3 days to clear to ebay. The payouts I'm receiving in my bank are being sent and received on the day following the sale, so far. ie. an item sold yesterday (Monday) was paid for by customer immediately and that payment was included in the payout sent at 1am this morning (Tuesday) which arrived in my account before 9.30am.

I shipped the item yesterday because I keep a buffer for costs in my account anyway. But if you needed that payment to pay for the shipping costs then you could just up your handling time to however many days your bank takes to process your deposits.

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Maybe my buyers, so far, are using a different payment method to yours, which is taking longer (eg: Paypal versus bank deposit).

If this happens all the time, however, I might open an account with BOQ and see if that changes things.

[tazzieterror]

Hopefully in the next few weeks there will be enough feedback on here from other sellers about which banks they are using and fund clearance times that there will be a few options to choose from for those those considering switching banks to get quicker payouts.

[shoppingbro]

So all my sold items is showing as

“The buyer has already paid. Funds are being held temporarily while the payment is processed.”

I hoped on the live chat with Ebay and the lady told me they won’t initiate payment to my bank account until the customer has confirmed delivery or has left feedback.
Is this true?
I thought once the customer has paid, it will take 24 hours before the Ebay transfer you the money to your bank account?

[jfmgray]

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@shoppingbro wrote:
So all my sold items is showing as

“The buyer has already paid. Funds are being held temporarily while the payment is processed.”

I hoped on the live chat with Ebay and the lady told me they won’t initiate payment to my bank account until the customer has confirmed delivery or has left feedback.
Is this true?
I thought once the customer has paid, it will take 24 hours before the Ebay transfer you the money to your bank account?

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I have not heard of that before. Interestingly all funds from my sales since commencing managed payments 2 days ago are showing as "pending". The buyers have paid eBay and the items have been sent. I hope what you have been told is incorrect as many buyers do not leave feedback and can't be relied upon to confirm the item has been received.